President Donald Trump unveiled a wave of letters again threatening key trading partners with high tariff rates even as he delayed the increased duties until Aug. 1 and suggested that he was still open to negotiations. Trump posted letters to various nations on social media on Monday, starting with his intent to impose 25% levies on goods from Japan and South Korea. A dozen more followed throughout the afternoon, outlining plans to tariff goods from trading partners including South Africa, Indonesia, Thailand and Cambodia.
Later at the White House, Trump signed an executive order that further delayed the so-called “reciprocal” tariffs, effectively buying each affected nation an extra three weeks to cut a deal. Japanese Prime Minister Shigeru Ishiba called the announcement of slightly higher US tariffs “truly regrettable” while he vowed to continue to protect his nation’s interests in the extended trade negotiations. Meanwhile in geopolitics, documents reviewed by Bloomberg offer unprecedented insight into how Moscow capitalized on its friendly ties with Beijing to skirt Western sanctions and acquire the know-how and capability to build drones to attack Ukraine. Soon after President Vladimir Putin launched his full-scale war on Ukraine, a little-known Russian company thousands of miles away hatched a plan to partner with Chinese firms and solve one of the most urgent challenges faced by the invading army — the need for combat drones that were radically reshaping the battlefield. Taken together, the documents show how sensitive technologies can move from China to Russia even if President Xi Jinping’s government says it’s not supplying either side.
Today’s guests: Rufaro Chiriseri, RBC Wealth Management Fixed Income UK Head, Daniel Rudnicki Schlumberger, JPMorgan EMEA Leveraged Finance Head, Vlad Tenev, Robinhood CEO, Fiona Eastwood, Merlin Entertainments CEO
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"The Pulse With Francine Lacqua" is all about conversations with high profile guests in the beating heart of global business, economics, finance and politics. Based in London, we go wherever the story is, bringing you exclusive interviews and market-moving scoops.
Chapters:
00:00:00 – The Pulse With Francine Lacqua
00:01:44 – EU Says It’s Making Progress on US Trade Deal
00:06:26 – Rufaro Chiriseri, RBC Wealth Management Fixed Income UK Head
00:07:18 – Trump Unveils New Batch of Tariff Demands
00:08:15 – Brazil President: US Cannot Threaten the World
00:18:26 – Daniel Rudnicki Schlumberger, JPMorgan EMEA Leveraged Finance Head
00:24:49 – Robinhood Tokenizes US Shares for European Traders
00:28:34 – Vlad Tenev, Robinhood CEO
00:36:05 – Macron to Discuss Security & Migration in State Visit to UK
00:43:04 – Fiona Eastwood, Merlin Entertainments CEO
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More on Bloomberg Television and Markets
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